N|V|5 Global, one of the fastest-growing engineering and consulting firms in the industry, has proposed a public offering of 1.27 million shares of its common stock at a price of $79 per share. The company, based in Hollywood, Fla., expects this sale to net an estimated $93.5 million.
BofA Merrill Lynch and Roth Capital Partners are managing the offering, the proceeds from which N|V|5 intends to use for “general corporate purposes” that could include more acquisitions.
Since 2010, N|V|5 Global has acquired more than 25 companies. It transacted its latest purchase last September, when it acquired Marron and Associates, an environmental services firm based in New Mexico with 15 full-time professionals.
N|V|5 focuses primarily on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions. The Company operates out more than 100 locations nationwide and abroad in Macau, Hong Kong, and Vietnam.
On Wednesday, the company’s stock price hit $90.25 per share, pushing it market capitalization briefly above $1 billion. (Its stock price closed yesterday at $83 per share.)
For the six months ended June 30, N|V|5 reported total revenue of $198.6 million, a 34.3% increase over the same period in 2017. Its net income for this period, $11.9 million, was up more than 80%.
The stock offering is scheduled to close on Monday, after which N|V|5 would still be controlled by insiders,. The company’s Prospectus states that there would be 12,399,000 shares of common stock outstanding after the offering. As of August 3, there were 732 holders of record of N|V|5’s common stock, excluding beneficial owners.
The Prospectus states that the Wright Family Trust has offered an additional 190,500 of its 921,717 shares that underwriters can purchase if they choose to exercise their options within the next 30 days. Dickerson Wright, PE, has been N|V|5’s Chairman and CEO since the company’s inception in 2009.
Related Stories
| Apr 9, 2014
How patient-centered medical homes can help healthcare providers and patients
Beyond reducing the number of uninsured Americans, the Affordable Care Act is driving new types of healthcare facilities, especially patient-centered medical homes.
| Apr 9, 2014
Colossal aquarium in China sets five Guinness World Records
With its seven salt and fresh water aquariums, totaling 12.87 million gallons, the Chimelong Ocean Kingdom theme park is considered the world’s largest aquarium.
| Apr 9, 2014
5 important trends shaping today’s hotel construction market
AEC firms, developers, and investors worldwide are bullish on hotels. Our hospitality Giants share what’s new in this fast-morphing sector.
| Apr 9, 2014
Steel decks: 11 tips for their proper use | BD+C
Building Teams have been using steel decks with proven success for 75 years. Building Design+Construction consulted with technical experts from the Steel Deck Institute and the deck manufacturing industry for their advice on how best to use steel decking.
| Apr 8, 2014
Fire resistive curtain wall helps The Kensington meet property line requirements
The majority of fire rated glazing applications occur inside a building to allow occupants to exit the building safely or provide an area of refuge during a fire. But what happens when the threat of fire comes from the outside? This was the case for The Kensington, a mixed-use residential building in Boston.
| Apr 8, 2014
Understanding value billing vs. conventional billing
Every company is a sum of the value it delivers to its clients. What differs from one company to the next is how that value is delivered and perceived. All too often, it is based solely on the fee you charge.
| Apr 8, 2014
Science, engineering find common ground on the Northeastern University campus [slideshow]
The new Interdisciplinary Science and Engineering Building is designed to maximize potential of serendipitous meetings between researchers.
| Apr 8, 2014
40 Under 40 winners: Meet the contractors
Of the up-and-coming AEC professionals to be named to the class of 2014, nine make their living as contractors.
| Apr 8, 2014
40 Under 40 winners: Meet the engineers
Of the up-and-coming AEC professionals to be named to the class of 2014, 10 make their living as engineers.
| Apr 7, 2014
40 Under 40 winners: Meet the architects
Of the up-and-coming AEC professionals to be named 40 Under 40 winners by the editors of Building Design+Construction, 21 make their living in the architecture profession.
